HP confirmed Wednesday that it has held talks with Xerox Holdings over a "potential business combination."

HP, known primarily for its printers and computers, said in a statement posted on its website that it received a proposal from Xerox on Tuesday. It said it has confidence in its strategy and path forward, something against which it was weighing the talks - and "what would be required to merit a transaction."

"We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye toward what is in the best interest of all our shareholders," the company said.

Xerox is considering a cash-and-stock takeover of HP, according to a Wall Street Journal report. Xerox spokeswoman Caroline Grensee-Linsey declined to comment.